Andrew Hamilton, a lawyer with a background in computer science, is spearheading a class-action lawsuit accusing the social media and search giants Google (NASDAQ:GOOGL), Facebook (NASDAQ:FB), Twitter, and YouTube for cartel-like behavior intended to kill off the burgeoning cryptocurrency sector.
The suit, which has already amassed more than $600 million in claims, accuses the firms of acting as a cartel in launching a coordinated attack designed to crush competition emerging from the nascent virtual currency sector in 2018 — when the social platforms enacted sweeping bans against the promotion of crypto assets and initial coin offerings.